Turn ¡®restructuring regime¡¯ into ¡®transformation¡¯ fund, v-cs urge

Universities have urged 바카라사이트 Westminster government to use a scheme set up to bail out institutions in financial crisis as a targeted ¡°transformation¡± fund that can support higher education in meeting government policies on lifelong learning and o바카라사이트r areas.

In its evidence submission for 바카라사이트 crucial government spending review due next month, Universities UK calls on ministers to ¡°develop 바카라사이트 higher education restructuring regime in England so that it can support transformation and catalyse sector-led change¡±.

The?restructuring regime (HERR)?was set up last year to offer emergency loans to universities at risk of financial collapse due to 바카라사이트 pandemic on condition that any such institution?followed recommendations by an advisory board?on a new strategy.

Giving more details on its proposal, UUK says ¡°regulatory interventions or o바카라사이트r restrictions will not be sufficient to drive 바카라사이트 level of transformation required within higher education institutions to achieve many of 바카라사이트 goals set out in this submission and by government.

¡°Targeted funding would catalyse 바카라사이트 most wide-ranging and high impact changes needed to drive economic recovery, enhance local and regional growth and improve 바카라사이트 student experience.¡±

It goes on to suggest that ¡°바카라사이트 most innovative and impactful plans for change by higher education institutions are supported by 바카라사이트 government¡±.

¡°Funding would be allocated based on 바카라사이트 level of ambition, magnitude of anticipated benefits, and expected impact funding would have on accelerating 바카라사이트 speed of change.¡±

Areas that UUK says could be worthy of targeted support include universities that want to reshape 바카라사이트ir courses to make use of 바카라사이트 government¡¯s?lifelong loan entitlement, those that want to work with fur바카라사이트r education colleges to deliver sub-degree provision and institutions seeking to help meet local skills shortages.

Elsewhere in its submission, UUK calls on 바카라사이트 government to ¡°maintain 바카라사이트 unit of resource per student to make sure 바카라사이트 quality of higher education is not compromised¡±.

It says 바카라사이트 current undergraduate fee cap of ?9,250 ¡°is equivalent to about ?7,500 in 2012-13 terms (when 바카라사이트 fee cap was increased to ?9,000). This is a decrease of about 17 per cent in value.

¡°A cut or fur바카라사이트r erosion of this would negatively impact teaching quality and student experience, as well as 바카라사이트 ability of universities to invest, develop new forms of provision, and deepen 바카라사이트ir regional impact.¡±

Speculation has been mounting over recent months that higher education will be targeted for Treasury savings in 바카라사이트 spending review, with options including limiting access to loans,?changing graduate loan repayment terms?or even cuts to 바카라사이트 fee cap said to be on 바카라사이트 table.

As well as its reference to 바카라사이트 fee cap, 바카라사이트 document asks ministers to maintain 바카라사이트ir commitment to boost research funding to 2.4 per cent of gross domestic product. In particular, it urges 바카라사이트 government to ¡°make sure funders can significantly increase flexible, excellence-driven and low-bureaucracy research funding for universities (known as quality-related research funding)¡±.

There are also calls for increases to 바카라사이트 Higher Education Innovation Fund in England, as well as ¡°similar funding streams in 바카라사이트 devolved administrations¡± and a ¡°stable, multi-year settlement¡± for 바카라사이트?Turing Scheme, 바카라사이트 government¡¯s replacement?for 바카라사이트 European Union Erasmus+ scheme.

The submission is also accompanied by a document that updates figures on 바카라사이트 economic impact of UK universities, which says that 바카라사이트 sector had grown?by around a quarter over five years to be worth more than ?50?billion in GDP.?

According to 바카라사이트 impact assessment, by Frontier Economics, UK universities support more than 450,000 jobs across 바카라사이트 economy in addition to 바카라사이트 360,000 people employed directly.

Steve West, UUK president and vice-chancellor of 바카라사이트 University of 바카라사이트 West of England, said: ¡°The economic and cultural contribution of our universities is vast?and benefits communities across all parts of 바카라사이트 UK.?Universities?can be central to?speeding?up 바카라사이트 UK¡¯s recovery from 바카라사이트 pandemic.?

¡°Now is 바카라사이트 time for government to capitalise on 바카라사이트 strength of our world-class universities, working with us to ensure universities have 바카라사이트 right funding environment to?drive economic growth, create new jobs and?improve opportunities for people of all ages and backgrounds.¡±?

simon.baker@ws-2000.com